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of the regions indexes as well. sou south korea's kospi is trading down. toyota motor executives are boosting vehicles. it's said to become the production center. toyota president made the announcement in bangkok during the 50th anniversary ceremonies for the firm's thai unit. >> in the near future we plan to build as many as one million vehicles a year. >> the goal is to churn out one and a half times more product than the current 6,000 units per year. toyota is the best selling auto maker in thailand. three plants roll out vehicles for domestic consumption to over 100 countries including the rest of southeast asia. >>> the indian government has approved a project to export rare earth metals to japan. japanese trading house and an indian firm have teamed up. sources say it was green lit on thursday. toyota executives are said to begin test operations next month at 80ss extraction facility in southern india. exports will begin next year. that's all for business news this hour. i'll leave you with a recap of the region's markets. >>> it's two against one in south korea's upcoming election. now
. >>> two major japanese automakers, toyota motor and mazda motor, are expanding their business alliance, this time abroad. they have agreed to produce a toyota brand car at mazda's plant in mexico. the companies have announced that they will make 50,000 subcompact cars a year at a plant mazda is now building in central mexico. production is scheduled to begin around the summer of 2015. toyota plans to sell the cars in north america. a new design based on mazda's demio model will be used for this new car. toyota will pay for part of the necessary production equipment and also shoulder some development costs. with the agreement, toyota aims to strengthen its lineup in north america. mazda on its part is hoping to ramp up production efficiency at the new plant and improve its profitability. the two firms had earlier joined hands to produce a hybrid car in japan. >>> japanese steelmakers have reported sharp profit declines in their first half of their business year. that's due to flagging overseas demand and increasing competition from china and south korea. three steel companies said altho
50 down, and the euro trading at a bit more than $1.27. >> more bad news for toyota. the company is recalling nearly 2.8 million vehicles because of two separate problems. >> and defects 13 different models including the popular prius hybrid. this time, the move concerns a defect in the steering shaft and problems with the water pump. toyota says no injuries or accidents have been reported. well, one of the world's most famous diamonds has sold at auction for nearly 17 million euros. it is named after the archduke yosef, its former austrian owner. >> the 76-carat diamond, which is described as internally flawless, came from ancient mines in india. it sold to an anonymous telephone bidder. it is the highest price per carry -- carat ever paid for a colorless diamond and well above the pre-sale estimate. >> we have to take a break, but when we come back, we will hone in on a country where the cash is not flowing so readily -- spain. >> after the break, we will touch on another challenge. >> that's in a minute. >> welcome back. the spanish government might soon have another problem t
competitors with american companies. it was toyota versus gm. it was toshiba versus ibm, et cetera, et cetera down the line. chinese companies are subcontractors for american brands. every apple product is made in china. two weeks ago, i was seeing where they were made. but of the $1,000 for an apple computer, only about $80 or $90 stays in china. the rest is with apple and with the screen makers and advertisers and retailers and fed ex and all the rest. and so, we have a trade deficit with china. the debt that the chinese hold over us actually they view as a weakness on our side for them, rather than us. number one, it makes them hostage to the value of our dollar and to our financial markets. if we're having a discussion in china, people would say, "what are we thinking, having all our savings in these u.s. treasury notes? you know, what if they default? what -- the interest, what if they have runaway inflation, et cetera, et cetera?" it's the imbalance between the two countries is a sign of imbalance in both of our systems. we've been too debt dependent and too over consumptive. they have
Search Results 0 to 3 of about 4